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Tax return. Fill out a 2019 form 1040, as well as Schedule A, for the following...

  1. Tax return. Fill out a 2019 form 1040, as well as Schedule A, for the following situation:
  • Married couple, filing jointly, with two minor dependent children
  • Wife had W-2 salary income of $150,000; husband had W-2 salary income of $110,000
  • The couple had a capital loss on selling stock of $8.900
  • The mother received an inheritance from her deceased aunt of $98,000
  • The couple made an IRA contribution of $4,000 (this is a payment)
  • The couple had the following potential itemized deductions:
    • Medical expenses of $14,400
    • Charitable contributions of $3,800
    • Home mortgage interest payments of $16,700
    • State income taxes paid of $8,600
    • Local real estate taxes of $9,300
    • Tax preparation fees of $2,600
  • Federal taxes withheld were $37,000
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